Lantheus Medical Imaging is crediting sales growth for its increased revenue in the third quarter of 2014 (end-September 30).
Revenue for the quarter increased 8% to $75.7 million, compared with $70.4 million in the third quarter of 2013, due in part to 20% sales growth of its Definity ultrasound contrast agent.
The company posted net income of $1.4 million in the third quarter, compared with a net loss of $15.1 million in the third quarter of 2013. Last year's net loss included a $6.8 million charge for the write-down of land that was subsequently sold.
For the nine-month period, revenue increased 6% to $224.6 million, compared with $212 million in the same period of 2013. Lantheus also reported a net loss of $1.5 million, compared with a net loss of $49.4 million in the same nine-month period of 2013.